To the editor:

Why is Crestwood in such poor financial condition?

The answer is simple. Expenditures have exceeded revenues every year since 1999. Since 1999, City Hall has spent $4 million more than it has taken in.

Next question. Who is responsible?

Again, the answer is simple. The board lacked the financial experience to provide the proper oversight. The board admits it was too trusting. When the board failed to ask the tough questions, it was misled. Lack of financial experience is a major factor leading to the current state of affairs.

For example, on Nov. 12, 2002, Alder-man Fagan led the charge to borrow $9.8 million to build a new police building because interest rates were low, stating: “Because of the savings, it would seem a wise investment.” Betting on interest rates is never a “wise investment.” Betting on interest rates is speculation.

This inappropriate $9.8 million “investment” is costing Crestwood almost $1,000 per day in interest charges.

We have already incurred interest costs of almost $900,000 and repaid principal of $735,000; yet the project is still on the architect’s drawing board.

Now Mayor Fagan wants a bond issue of up to $6 million to be paid back in 10 years with a 30-cent property tax. This will incur up to $1.3 million in interest and expense charges. While he says the issue is up to the voters, he tells people that police and fire services will be cut if the bond issue does not pass. As a result, employees are fearful and misinformation on Prop 1 is rampant.

In contrast, Roy Robinson has better ideas and does not use fear tactics.

Roy Robinson:

• Has assured us that police and fire services will be retained at current levels, even if Prop 1 is defeated.

• Is the only candidate who has ex-pressed a willingness to consider alternatives to a major reconstruction of the government center/police building.

• Is the only candidate dedicated to cutting long-term debt.

• Pledges that, if a tax is needed, it will be no more than the Prop 1 tax. And it will be a tax where all the money goes directly to the general fund that pays the Police and Fire departments that serve us, not a tax that includes interest to bondholders.

On April 5, vote to bring Crestwood back; vote for Roy Robinson.

Jerry Miguel

Crestwood Ward 3 alderman

Editor’s note: The Crestwood Board of Aldermen voted 7-0 with Alderman Miguel abstaining to place the general obligation bond issue, called Proposition 1, on the April 5 ballot. Though he abstained, Mr. Miguel now opposes the bond issue and advocates placing “a no-bond tax issue to restore funds over time on the August ballot.”